Enabling Project Server on SharePoint 2016
To enable Project Server on an existing SharePoint installation open the Administration PowerShell and execute ‘Enable-ProjectServerLicense’ followed by the license key.
There is currently a bug when you try to execute the command without followed by the proper license key. Somehow the key got messed up by PowerShell and won’t activate this feature.
Configuration of Project Server
After the activation of the Project Server Service Application can be created by the central administration.
The next step is that you need to create a new site collection and enable the Project Web App on this site collection.
Again, the SharePoint Administration PowerShell is there to help you out. Just execute ‘Enable-SPFeature’ on the desired site collection.
Verdict
I think it’s a good move forward to have SharePoint and Project Server combined together without the need for an additional installation.
According to the official documentation it will only be available for SharePoint Server Enterprise license.
I rushed pretty much through the configuration just to show and prove that it can be enabled. Please check the official documentation on how to fully configure project server on technet.